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FTSE 100 lag on appointing women to boards

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13th Sep 2011
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Only eight of the top 100 UK companies are likely to meet their voluntary target of having women occupy a quarter of board places by 2015. Gail Purvis reports.

A report from the law firm Pinsent Masons shows that of the UK's 100 richest companies only eight have formally announced that they intend to meet Lord Davies' targets of at least 25% female representation  by 2015.

However, 12 companies have already reached that target, though they have made no future commitment, and 32 companies have reached the target for 2011. Martin Webster, a corporate governance expert with Pinsent Masons, pointed out that the number of women appointed to FTSE 100 boards increased from 12.5% to 14.3% since Davies’ report.

Aggreko, Aviva, BAE Systems, Morrison Supermarkets, RBS and Scottish & Southern Energy) referred to Davies in their annual reports or elsewhere when detailing their efforts to increase the number of women in senior management, but fallen short of attaining the goal he set. RBS, for example, commented: “We are currently looking for new directors and hope that we will be able to identify women of appropriate quality.”

The Davies Report highlighted the experience benefits of improving gender diversity in the boardroom. When Norwegian companies failed to meet a target of 40% female representation on boards by 2005, legislation was passed with the threat of fines or closure for non-compliance.

Somewhat ironically a quick glance at Pinsent Mason's Heads of Office page shows just how hard it can be attaining diversity at senior level. Of the 10 key people illustrated, only one is a woman.

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